Real estate market update

Lots of contrasting trends. On one hand,Notices of default are up 39% .

But houses actually getting foreclosed on fell 28% from the prior quarter as short sales are becoming more common. Actual foreclosures fell 55% from last year. Default notices are more common in the lower areas= under 200k.

The median price in Southern California rose 28% in June from a year ago-most since statistics have been gathered. That puts it at $385,000 up from $300 last June. At the peak it was $505 so we have room to go.

The LA Times gives a monthly chart of prices by zip code and change from 2012.

[note color=”#fff199″][label style=”important”]YOU MUST SEE THIS[/label] Some areas are up over 75%. Remember averages are averages. There are many far above. You can view this chart by logging on to dqnews.com and check out the LA Times chart. text[/note]

All this is giving cash investors 2nd thoughts about buying at any price. The higher prices reduce their return on investment . That is good for us because they are the elephant in the room distorting everything.

If you willing to work hard, your return is amazing. If you are not willing to work at it, you won’t find anything. You can’ at simply go to the MLS anymore. You have to learn how to find your own deals.

What’s the real estate market doing now?

Lots of contrasting trends. On one hand,Notices of default are up 39% .

But houses actually getting foreclosed on fell 28% from the prior quarter as short sales are becoming more common. Actual foreclosures fell 55% from last year. Default notices are more common in the lower areas= under 200k.

The median price in Southern California rose 28% in June from a year ago-most since statistics have been gathered. That puts it at $385,000 up from $300 last June. At the peak it was $505 so we have room to go.

The LA Times gives a monthly chart of prices by zipcode and change from 2012.YOU MUST SEE THIS. Some areas are up over 75%. Remember averages are averages. There are many far above. You can view this chart by logging on to dqnews.com and check out the LA Times chart.

All this is giving cash investors 2nd thoughts about buying at any price. The higher prices reduce their return on investment . That is good for us because they are the elephant in the room distorting everything.

If you willing to work hard, your return is amazing. If you are not willing to work at it, you won’t find anything. You can’ at simply go to the MLS anymore. You have to find your own deals.